Market Overview

UPDATE: Barclays Downgrades FireEye

Share:

In a report published Friday, Barclays analyst Raimo Lenschow downgraded FireEye (NASDAQ: FEYE) to Equal-weight, raising its price target to $73.00 from $63.00.

According to the report, the analysts remain strong believers in the structural growth story for the name but struggle to push for even further upside in the short term given the new valuation levels (18x CY2015 EV/Sales). FEYE is one of the most interesting names in the security space given its differentiated next-generation platform for tackling advanced cyber threats.

“Technology is still disruptive: FireEye is changing the way customers approach cyber security and disrupting legacy vendors who still largely rely on outdated, signature-based approaches,” the report noted. “As we have previously shared, the acquisition of Mandiant expanded the company's TAM by introducing key market adjacencies like endpoint, incident response services, cloud SIEM and managed defense.”

FEYE closed Thursday at $73.17.

Posted-In: Barclays Raimo LenschowAnalyst Color Downgrades Price Target Analyst Ratings

 

Related Articles (FEYE)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
IINDoughertyAssumes34.0
PNRJefferiesInitiates Coverage On
YYUBSUpgrades
ROKUOppenheimerMaintains155.0
IPHIBank of AmericaMaintains80.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Benzinga's Top #PreMarket Gainers

Benzinga's Top Initiations